Banking
FDIC Problem Bank List Now Includes 171 Banks
In just three months, the number of problem banks has gone up from 117 to 171, an increase of 46%!
When the FDIC released its second quarter bank profile in August, the agency said it has 117 banks on its watch list, a record number at that time. Today, in the third quarter FDIC bank profile [...]
Update on DollarSavingsDirect Account
It has been two weeks since I opened an account at DollarSavingsDirect. Since the account has been verified and it’s up and running. Here are a few updates on the account.
Trail Deposits
I opened the account on Sunday, November 9th. During the application process, I was told that the two small trail deposits will be posted [...]
The Growing List of Failed Banks
I am not really worried about Citi right now, despite that investors who question the bank’s ability to sustain mounting losses from toxic loans and bad investments have pushed Citi stock to below $4 a share on Friday, the lowest in 16 years (hope you didn’t buy Citi stock). Citi has raised some $70 billion [...]
IGoChecking Has The Best Interest Checking Account Rate
I am IGoBanking Savings Account customer. Though the bank is no longer my everyday bank as it used to be, I still access my account there quite often. Somehow I still missed their big rate increase of the IGoChecking Checking Account that I mentioned before (I use only their Savings account, not Checking account).
If you [...]
NCUA Insurance Is As Good As FDIC Insurance
I have never used a credit union before, therefore, I never paid any attention to how money is insured in a credit union. I just assume that there some some kind of measures to protect credit union customers again losses if a CU fails, like the way my deposits at banks are protected by [...]
Recent Bank Findings: OnBank, ShoreBank Direct and Venture Bank
I have added a few more banks to the interest rates table the other day when I updated the list. There are three of them that I think worth mentioning because they all offer very attractive rates: 3.50% APY or more with very low minimum deposit requirement. None of them is big, well-known name. I [...]
WTDirect Lowered Savings Account Rate to 3.06% APY
Just received a note from WTDirect regarding their rate change. The bank has lowered its WTDirect Savings Account rate to 3.06% APY from the previous rate of 3.31%. Actually, I though 3.31% APY was a pretty decent rate, with the only drawback that it requires $10,000 minimum deposit which is pretty high (FYI, Capital One [...]
Virtual Bank eMoney Market Account $20 Referral Bonus
I thought I closed my Virtual Bank account more than a year ago (that is, I can no longer log in). But apparently my account seems to be still alive, except that there’s no money in it.
Anyway, I successfully logged into my account at Virtual Bank tonight and saw their Refer a Friend program they [...]
ING Posted First Ever Quarterly Loss
Dutch financial service giant ING, which operates ING Direct in the U.S., posted its first ever quarterly loss since the establishment of the company 17 years ago. In the third quarter, ING said it lost 478 million euros or $602 million, after the company took 1.5 billion euros in pretax write-downs on equities and debt [...]
DollarSavingsDirect Reviews
Dollar Savings Direct is a division of Emigrant Bank, which also owns Emigrant Direct. The account currently has a 3.05% yield with a $1,000 minimum deposit requirement.
I have been mulling the idea of getting another savings account with a better return for several months because I am not very happy with the rates from banks [...]
